Nelnet has been a trusted student loan servicer for over 40 years.
So when the company decided to create an online-only bank (Nelnet Bank) in November 2020, its student loan refinancing packages were launched on a strong foundation. When Nelnet Bank launched, BenefitEd was excited to build a strong new partnership.
With the expertise and infrastructure to give student loan borrowers added support – plus a proven commitment to service – Nelnet Bank delivers an experience many other competitors can’t match. In a market where rates are often the only thing borrowers care about, Nelnet Bank is setting itself apart with service.
Beyond a focus on service, Nelnet Bank helps BenefitEd create a package that stands strong with other leaders in the industry:
- Competitive Rates: Nelnet Bank consistently retains rates that match or beat industry leaders.
- Flexible Options: The company offers a diverse set of repayment terms.
- Auto Debit Savings: Borrowers who sign up for auto-debit savings receive an automatic reduction of .25% from their interest rate.
- Fewer Fees: The company doesn’t charge origination, disbursement or prepayment fees.
- Hardship Protection: With 24 months of hardship forbearance, borrowers are protected against unexpected loss of income.
By combining these features with a proven record in the student-loan servicing business, Nelnet Bank helps BenefitEd bring a dependable new refinancing option to the market.